Clearstream Banking1 reminds clients about the most important aspects of mandatory General Meeting registration, as part of the General Meeting instructions process for German Registered Shares.
This registration process was implemented in November 2024 and is described in the Client Handbooks for CBL, CBF and LuxCSD and also in the Detailed Functional Specifications.
Registration process
Clearstream will reject any General Meeting instruction for German Registered Shares that do not contain either a registration request or provide the Shareholder ID as proof of a previous successful registration. The registration process is as follows.
Registration via CASCADE-RS (CBF accounts only)
The existing process to request registration directly (for instance via CASCADE-RS or MT500 messages) remains in place. If the client has previously registered via CASCADE-RS or MT500, the following requirements must be followed in the GM instruction:
The “Securities Registration” Indicator must be set to “FALSE” or empty in the seev.004 instruction.
The “Company Register Shareholder Identification” (Shareholder ID) must be included in “Rights Holder” section of seev.004.
In this case, the minimum mandatory Rights Holder details (Natural Person: First Name + Surname - Legal Person: Name) as per Swift standards must be provided
In the case of joint ownership, the Shareholder ID, if already present, should always be mentioned only in the first Rights Holder section.
Registration via Instruction (seev.004/Xact – all accounts)
Alternatively, for CBF client accounts, and in all cases for CBL/CBF-i or LuxCSD client accounts, the registration must be requested via seev.004 or the Xact Web Portal GM instruction functionality.
Registration request requirements
To request a registration via seev.004 or Xact Web Portal, the “Securities Registration” Indicator must be set to TRUE. Additionally, the “Company Register Shareholder Identification” (Shareholder ID) must not be included in “Rights Holder” section.
A Registration request can be sent without Participation Method or can be combined with a Vote (EVOT) or Proxy (PRXY) instruction.
However, an Attendance (PHYS) instruction cannot be combined with the registration request, and these must be sent via two separate instructions. The first is a registration only request, the second instruction to submit the Attendance (PHYS) must be sent with the Shareholder ID and in this message the registration required flag must be set to “FALSE” or empty.
To process the registration request, certain information about the rights holder is required. The required data is shown in the table below. This information is required to process the registration request, independent of the Beneficial Owner Disclosure indicator value (TRUE/FALSE). Missing data leads to rejection of the instruction.
Rights holder data may not however be provided in the field “Address Line”. Instead, the individual dedicated fields must be used, meaning the address is split into several fields (Street Name, Building Number, Town Name etc.) that must be provided separately within the seev.004 or via Xact Web Portal. Please note that for all fields, special characters including accented letters must NOT be used.
Information
Natural Person
Legal Person
Registration Request Qualifier true AAABBB
[…]
12345
Instruction Cancellation (seev.005)
CANC123
[…]
AAABBB
[…]
12345
Re-Instruction (seev.004)
CANC123 AAABBB 12345
Note: As for any instruction, the final responsibility to accept or reject lies with the respective Issuer Agent.
Examples
Case 1: Successful registration of natural person
MIST Max Mustermann MUSTERSTRASSE 9 63457 KARLSRUHE DE DE12345678MAXMUSTER CUST DE 1960-01-01 DE True MUSTERBANK SA VIA EXAMPLO 8/10 20121 MILANO IT 1234567890ABCDEF IT True Maxine Musterfrau 1234567890 CCPT DE 1234567 False
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